Building on existing public-private partnerships, the City and its partners have assembled a variety of resources to maximize benefits for homebuyers and communities. The incentives are available to homeowners across a spectrum of incomes to purchase a home that is right for them. The partnership between the City, philanthropic partners such as the Partnership for New Communities, developers, and lenders makes “Find Your Place in Chicago” a historic initiative that offers a great opportunity for home buyers.
Incentives available on all homes:
- Partnership Special Incentive – The Partnership for New Communities will provide $15,000 to buyers toward the purchase price of these great homes that are already at new below market prices. There are no income eligibility requirements. Click here to learn more.
- Developer incentives - Many of the developer partners are offering incentives for their developments, from a year free parking to free upgrades. Visit developers' websites or contact their sales representative to learn more.
- Lender incentives - The City of Chicago is working with partner lenders to offer special mortgage products to buyers of Find Your Place in Chicago homes, such as 30-year, fixed-rate mortgages with 3% down and grants toward closing costs and fees to eligible borrowers. Click here to learn more.
- Employer-Assisted Housing Grants - Various public and private employers offer down-payment assistance grants and forgivable loans to employees who buy homes in certain areas of Chicago. This includes programs for public safety officers, Chicago Public Schools teachers, Universities and Hospitals. Click here to learn more.